Weaknesses of EBITDA

 

Source: Harvard Business School Online

Introduction

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is a financial metric used by investors, analysts, and financial advisors to evaluate the performance and value of a business. EBITDA is calculated by adding back interest, taxes, depreciation, and amortization to net income. The resulting figure is believed to provide a more accurate representation of a company’s financial performance because it eliminates the effects of non-operating expenses.

However, EBITDA has several weaknesses that investors should be aware of when using it for valuation purposes.

Weaknesses of EBITDA

Excludes Important Expenses

The first weakness of EBITDA is that it excludes important expenses that are necessary to run a business. These expenses include interest payments, taxes, depreciation, and amortization. By excluding these expenses, EBITDA provides an incomplete picture of a company’s financial performance.

For example, a company that has high levels of debt will have significant interest expenses. Excluding these expenses from the calculation of EBITDA will result in an inflated EBITDA figure. This, in turn, may lead investors to overvalue the company, as they may assume that the company is more profitable than it actually is.

Ignores Capital Expenditures

The second weakness of EBITDA is that it ignores capital expenditures, which are expenses incurred to maintain or improve a company’s assets. Capital expenditures include expenses such as the purchase of property, plant, and equipment, and the development of new products or services.

Ignoring capital expenditures can be particularly problematic for companies that have high capital expenditures relative to their revenue. In these cases, a company’s EBITDA may be significantly higher than its cash flow from operations, which could mislead investors into thinking that the company is more profitable than it actually is.

Can be Manipulated

The third weakness of EBITDA is that it can be manipulated by companies to make their financial performance appear better than it actually is. For example, a company can reduce its depreciation and amortization expenses by extending the useful life of its assets or by using a higher salvage value. This will result in a higher EBITDA figure, which may mislead investors into thinking that the company is more profitable than it actually is.

Not Standardized

The fourth weakness of EBITDA is that it is not standardized, which means that different companies may calculate EBITDA differently. For example, some companies may exclude certain expenses from the calculation of EBITDA, while others may include them. This can make it difficult for investors to compare the financial performance of different companies using EBITDA.

Does Not Account for Working Capital

The fifth weakness of EBITDA is that it does not account for changes in working capital, which are changes in a company’s current assets and liabilities. Changes in working capital can have a significant impact on a company’s cash flow and profitability.

For example, a company that is experiencing rapid growth may need to increase its inventory levels to meet customer demand. This will require additional working capital, which may reduce the company’s cash flow from operations. Excluding changes in working capital from the calculation of EBITDA can result in an inflated EBITDA figure, which may mislead investors into thinking that the company is more profitable than it actually is.

Credit Spreads: An Overview

Credit spreads are an important measure of the perceived risk of default of a bond issuer. In this article, we will explore the concept of credit spreads in detail, including what they are, how they are calculated, and why they are important. We will also discuss some of the factors that affect credit spreads, such as credit ratings, economic conditions, and market sentiment.

What are Credit Spreads?

Credit spreads reflect the difference in yield between a bond and a comparable risk-free asset, such as a government bond with the same maturity. The larger the credit spread, the higher the perceived risk of default.

Credit spreads are an important indicator of market sentiment towards a particular bond issuer or credit market. They are often used by investors and analysts to evaluate the creditworthiness of a bond issuer and to make investment decisions.

How are Credit Spreads Calculated?

Credit spreads are calculated by subtracting the yield of a risk-free asset, such as a government bond, from the yield of a bond with the same maturity. Credit spreads can also be expressed in basis points (bps), which are equal to one-hundredth of a percentage point.

Why are Credit Spreads Important?

Credit spreads are important for several reasons. Firstly, they are a key indicator of market sentiment towards a particular bond issuer or credit market.

Secondly, credit spreads can be used to evaluate the creditworthiness of a bond issuer. Investors and analysts use credit spreads to compare the risk of default of different bonds and to identify potential investment opportunities.

Finally, credit spreads are an important factor in determining the cost of borrowing for bond issuers. A higher credit spread means that bond issuers will have to pay a higher interest rate to attract investors, which can increase their borrowing costs.

Factors that Affect Credit Spreads

Credit spreads are affected by a variety of factors, including credit ratings, economic conditions, and market sentiment.

Credit Ratings

Credit ratings are assigned by credit rating agencies, such as Moody's and Standard & Poor's, and range from AAA (highest) to D (lowest). Bonds with higher credit ratings generally have lower credit spreads, as they are perceived to have a lower risk of default.

Conversely, bonds with lower credit ratings generally have higher credit spreads, as they are perceived to have a higher risk of default. However, credit spreads can also be affected by changes in credit ratings. For example, if a bond issuer's credit rating is downgraded, its credit spread may increase, as investors become more concerned about the issuer's creditworthiness.

Economic Conditions

Economic conditions can also have a significant impact on credit spreads. In times of economic uncertainty or recession, credit spreads tend to widen, as investors become more risk-averse and demand higher returns to compensate for the perceived risk.

Conversely, in times of economic growth and stability, credit spreads tend to narrow, as investors become more confident about the creditworthiness of bond issuers and demand lower returns.

In conclusion, credit spreads are an important measure of the perceived risk of default of a bond issuer. They are used by investors and analysts to evaluate the creditworthiness of a bond issuer and to make investment decisions. Credit spreads are affected by a variety of factors, including credit ratings, economic conditions, and market sentiment, and can be calculated by subtracting the yield of a risk-free asset from the yield of a bond with the same maturity.

To calculate the credit spread for this bond, we first need to determine the yield of a comparable risk-free asset. Let's assume that a 10-year government bond is currently yielding 3%.

The yield on the corporate bond can be calculated as follows:

Annual Coupon Payment = £50 (i.e., £1,000 x 5%) Current Price = £950 Face Value = £1,000 Time to Maturity = 10 years

Yield = (Annual Coupon Payment + ((Face Value - Current Price) / Time to Maturity)) / ((Face Value + Current Price) / 2)

Yield = (50 + ((1,000 - 950) / 10)) / ((1,000 + 950) / 2)

Yield = 5.26%

The credit spread for this bond can be calculated as follows:

Credit Spread = Yield on Corporate Bond - Yield on Government Bond

Credit Spread = 5.26% - 3%

Credit Spread = 2.26% or 226 basis points

Therefore, the credit spread for this bond is 226 basis points, which reflects the additional yield that investors demand to compensate for the perceived risk of default.

Why focus on strengths instead of improving your weaknesses

Photo by Jirsak

Introduction

The idea of focusing on our weaknesses and trying to improve them has been drilled into us from a young age. We are told that in order to succeed in life, we must work on our flaws and become well-rounded individuals. However, research suggests that focusing on our strengths instead can lead to greater success and satisfaction in life. In this article, we will explore the benefits of using your strengths, how to identify them, and how to leverage them to achieve your goals.

Why Focusing on Weaknesses is Ineffective

When we focus on our weaknesses, we often feel demotivated and overwhelmed. We may struggle to make progress and feel like we are constantly failing. This can lead to low self-esteem and burnout, which can further inhibit our ability to improve. Furthermore, focusing on weaknesses can take a lot of time and effort. It may take months or even years to improve a weakness, and even then, we may only make marginal progress.

Research supports the idea that focusing on strengths can be more effective than trying to improve weaknesses. A study by the Gallup Organization found that employees who had the opportunity to use their strengths every day were more engaged, performed better, and were less likely to leave their jobs than employees who didn't have this opportunity. This suggests that using one's strengths can lead to greater job satisfaction and retention.

Identifying Your Strengths

The first step in using your strengths is identifying what they are. Many people may not be aware of their strengths or may undervalue them. It can be helpful to take a strengths assessment to get a better sense of what you excel at. These assessments can help you identify your natural talents, skills, and abilities.

One popular strengths assessment is the CliftonStrengths assessment, which was developed by Gallup. This assessment identifies your top five strengths out of a list of 34 different themes. The assessment is designed to help you understand your unique talents and how to leverage them to achieve success. Another popular assessment is the VIA Character Strengths survey, which identifies your top strengths based on 24 character strengths such as creativity, curiosity, and kindness.

Once you have identified your strengths, it's important to understand how to leverage them to achieve your goals.

When it comes to achieving our goals, it's important to leverage our strengths. To do this effectively, we need to have a strategic approach. One way to get started is to set clear goals. By identifying what we want to achieve and then determining how our strengths can help us get there, we can create a roadmap for success. For example, if our goal is to start a business, we can leverage our strengths in creativity, problem-solving, and communication to develop a successful business plan.

Another way to leverage our strengths is to identify opportunities to use them in our personal and professional lives. By looking for opportunities to use our strengths, we can develop them further and showcase them to others. For example, if our strength is public speaking, we may look for opportunities to speak at events or conferences.

While it's important to focus on our strengths, it's also important to develop our skills. For example, if our strength is creativity, we may need to develop our technical skills in order to create something that is both creative and functional. By developing our skills, we can enhance our strengths and make them more valuable.

Collaboration can also be a powerful tool for leveraging our strengths. By working with others who have complementary strengths, we can achieve more than we would on our own. For example, if our strength is creativity, we may collaborate with someone who has strengths in marketing or business development to create a successful product or service.

Finally, seeking feedback is an important part of leveraging our strengths. Feedback can come from colleagues, friends, or mentors. By listening to feedback with an open mind and being willing to make changes if necessary, we can continue to grow and improve our strengths.

There are many benefits to using our strengths, both personally and professionally. For example, using our strengths can lead to increased motivation, greater job satisfaction, improved performance, better relationships, and personal growth and development. By identifying our strengths and leveraging them to achieve our goals, we can achieve greater success and satisfaction in life.

Conclusion

In conclusion, focusing on our strengths can be more effective than trying to improve our weaknesses. By identifying our strengths and leveraging them to achieve our goals, we can increase our motivation, job satisfaction, and performance, and build better relationships with others. It's important to remember that while focusing on our strengths is important, we also need to develop our skills and seek feedback in order to continue to grow and improve. By using our strengths, we can achieve greater success and satisfaction in life.

Backlinks:

• Strengths-Based Coaching: A Powerful Tool for Achieving Your Goals
• The Benefits of Focusing on Your Strengths
• Using Your Strengths to Achieve Your Goals
• How to Identify Your Strengths and Weaknesses (and Why You Should)
• Leveraging Strengths to Build Strong Teams
• Why Focusing on Strengths Boosts Employee Engagement
• Why You Should Focus on Your Strengths, Not Your Weaknesses
• The Power of Leverage: How to Use Your Strengths to Achieve Your Goals
• Developing Strengths or Weaknesses? Why Strengths Are More Important
• Why Strengths-Based Coaching Is Actually Very Effective

Citations:

• Buckingham, M. & Clifton, D. O. (2001). Now, Discover Your Strengths. New York, NY: Free Press.
• Harzer, C., & Ruch, W. (2012). When the job is a calling: The role of applying one's signature strengths at work. Journal of Positive Psychology, 7(5), 362-371.
• Linley, P. A., Nielsen, K. M., Gillett, R., & Biswas-Diener, R. (2010). Using signature strengths in pursuit of goals: Effects on goal progress, need satisfaction, and well-being, and implications for coaching psychologists. International Coaching Psychology Review, 5(1), 6-15.
• Rath, T. (2007). StrengthsFinder 2.0. New York, NY: Gallup Press.
• Seligman, M. E. P., Steen, T. A., Park, N., & Peterson, C. (2005). Positive psychology progress: Empirical validation of interventions. American Psychologist, 60(5), 410-421.

China's Sperm Bank Drive: Fears of Infertility and Population Decline

In recent months, China's sperm banks have seen an influx of men coming to donate sperm. Sperm banks in multiple provincial-level regions, such as Yunnan, Shaanxi, Beijing, and Shanghai, have been calling on healthy men and college students to donate. The sudden increase in donations comes after decreased collections due to Covid curbs. While the drive to get more sperm donations has triggered concerns of a shortfall in supply and rising male infertility rates, experts have debunked these concerns. This article explores the reasons behind China's sperm bank drive and what it means for the country's population.

The Donation Room

Sperm banks are critical in helping couples who want children but cannot conceive due to fertility issues or genetic disorders. However, the drive for sperm donations in China has sparked concerns over a shortfall in supply and rising male infertility rates. While local media reports have picked up the story of a nationwide sperm donation drive, Chinese internet users have latched onto the statistic that only 20% of the donors had qualified, prompting chatter about whether men in China are becoming less able to have children.

Data from the largest sperm bank in China, the Reproductive & Genetic Hospital of Citic-Xiangya, showed that the probability of qualified sperm from donors was 17.7% in 2015, a third of what it was in 2006. However, experts have highlighted that calls for sperm donations are not evidence of declining male fertility.

Huang Chuan, deputy director of the sperm bank, stated that the drop in the qualified rate does not represent an overall change in sperm quality for all men. The decline in qualified semen can be attributed to the poor habits of college students, who make up the majority of sperm donors. It may just be temporary, Huang explained. "This doesn't directly indicate a decline in male sperm quality."

The National Supply of Donated Sperm

Experts have also rebutted speculation online that China is running out of donated sperm, saying the total amount stored in sperm banks across the country is actually greater than needed. There's still a large amount of semen stored in China's sperm banks, which can fully meet patients' needs, said Zhang Xinzong, director of the Guangdong Human Spermbank.

Zhang said before 2011, couples who sought the facility for help had to wait in line for a long time, but over the past few years, the supply at the sperm bank has improved significantly, and there are now 80,000 donor sperm samples stored. "Even if we do not take any collections over the next three to five years, the supply is enough," he said.

Zhu Wenbing, director of the Citic-Xiangya hospital's sperm bank, stated that the national demand for donated sperm "should have reached saturation." The annual utilization of samples in his sperm bank has dropped by nearly half over the past few years.

Regional Imbalances

While experts said that national supply is fine, some flagged that imbalances exist regionally, especially in provinces where sperm banks have not been long established or are not large enough. Coupled with the impact of three years of Covid controls that made it difficult for college students to donate semen, the amounts stored in these facilities may be temporarily insufficient.

The experts suggested tackling the issue by facilitating nationwide sperm distribution, which they say could also reduce the risk of getting paired between close relatives. Such pairings have an increased risk of genetic diseases in newborns.

Sperm needs to be stored in liquid nitrogen, which is banned from being carried on airplanes, for transport, Zhang said. Many sperm banks and fertility centers may prefer to use sperm within their own provinces because of the cumbersome process of applying for special permission to transport it, he said.

The Wider Population Decline in China

The speculation around a shortfall in supply and rising male infertility rates plays into the wider national anxiety over a population decline in the country. China's population decline is the first in six decades and could lead to a continued decline in an already shrinking workforce and take a toll on the economy.

While experts have debunked concerns over an overall supply shortfall and rising infertility, some have highlighted that a regional imbalance in sperm supply still exists and suggested that there should be some rethinking about the role sperm banks play in mitigating China's population decline.

Seeking Transformation

As China's population ages and shrinks, and couples of childbearing age are less willing to have children, industry insiders said the primary role of sperm banks could be shifted from serving infertile couples to preserving people's fertility.

China currently allows all men to freeze their sperm, and married women to freeze their eggs. But while most sperm banks in the country allow men to store their own sperm there for later use, they face problems such as low participation and low utilization of these samples.

One group that could be targeted to preserve their sperm are cancer patients. Li said it's beneficial for cancer patients to preserve their fertility because cancer treatment can affect their fertility. He also recommends freezing the sperm of healthy men who don't currently want to have children but are concerned about their declining fertility in the future.

Li said in Sichuan province alone, about 5,000 men have undergone fertility preservation, with about 1,000 each year in recent years. Still, there is room for improvement. "We still lack fertility preservation awareness," he said.

Conclusion

While the drive for sperm donations in China has sparked concerns over a shortfall in supply and rising male infertility rates, experts have debunked these concerns. The national supply of donated sperm is adequate, and regional imbalances can be tackled by facilitating nationwide sperm distribution. As China's population ages and shrinks, some experts suggest that the primary role of sperm banks could be shifted from serving infertile couples to preserving people's fertility. China currently allows all men to freeze their sperm, and married women to freeze their eggs, but more needs to be done to improve fertility preservation awareness.

The Future is Now: How Technology is Transforming the Healthcare Sector

As the world becomes increasingly digitized, the healthcare sector is not immune to the effects of technological advancements. From digital health records to telemedicine, technology has the potential to revolutionize the way we think about healthcare. This article will explore the ways in which technology is transforming the healthcare sector and what this means for patients, providers, and the industry as a whole.

I. Introduction

The healthcare sector is undergoing a transformative shift, and technology is playing a critical role in driving this change. From digital health records to telemedicine, artificial intelligence, wearable technology, and robotics, these technological advancements are driving innovation and revolutionizing the way healthcare is delivered.

Digital health records are one of the most significant technological advancements in healthcare. Electronic health records (EHRs) allow for the seamless sharing of patient information between healthcare providers, reducing errors and improving patient outcomes. EHRs also enable patients to access their health information easily and securely, providing them with greater control over their health.

Telemedicine is another technological advancement in healthcare that is gaining traction. Telemedicine enables healthcare providers to remotely diagnose and treat patients, improving access to care, and reducing healthcare costs. Patients can receive medical advice and treatment from the comfort of their homes, reducing the need for face-to-face consultations.

Artificial intelligence (AI) is also making significant inroads in healthcare. AI-powered algorithms can analyze large amounts of medical data and identify patterns that humans might miss. AI can also help healthcare providers with tasks such as predicting patient outcomes, identifying potential health risks, and developing treatment plans.

Wearable technology is another area where technology is driving innovation in healthcare. Wearables such as fitness trackers and smartwatches can track a patient's vital signs, provide real-time health alerts, and monitor chronic conditions. Wearables are also being used to improve patient engagement, enabling patients to take an active role in their health.

Robotics is also transforming healthcare, with robots being used for tasks such as surgical procedures, medication delivery, and patient monitoring. Robots can perform surgeries with greater precision, reducing the risk of errors and complications. They can also assist healthcare providers with tasks such as patient monitoring, freeing up their time to focus on more complex medical procedures.

However, with the increasing use of technology in healthcare comes concerns over data security and privacy. As healthcare providers collect more patient data, the risk of data breaches also increases. Therefore, it is essential to implement robust data security measures to protect patient information.

In conclusion, technology is transforming the healthcare sector, and the potential for innovation is limitless. As the healthcare industry continues to evolve, so too must the technology that supports it. By harnessing the power of technology, healthcare providers can improve patient outcomes, reduce costs, and enhance the overall quality of care. However, it is also essential to ensure that patient data is protected, and privacy concerns are addressed to build patient trust in the technology that is transforming healthcare.

II. Digital Health Records

This document provides a brief overview of digital health records, their benefits, challenges, and concerns.

Digital health records, also known as electronic health records, are digital versions of patients' medical records. They contain information such as medical history, medications, lab results, and treatment plans. These records are stored in a secure electronic format and can be accessed by healthcare providers from different locations.

The benefits of digital health records are numerous. They improve the quality of healthcare by reducing medical errors, increasing efficiency, and enhancing communication between healthcare providers. Patients can also access their own records online, which allows them to better manage their own health.

However, there are also challenges and concerns associated with digital health records. One of the main concerns is privacy and security. Electronic records can be vulnerable to hacking and data breaches, which could compromise patients' personal information. There are also concerns about the accuracy of the records and the potential for errors in data entry.

Despite these challenges and concerns, the benefits of digital health records far outweigh the risks. As technology continues to advance, it is likely that digital health records will become even more prevalent in the healthcare industry.

III. Telemedicine

Telemedicine is a rapidly growing field that allows healthcare professionals to provide medical care remotely through technology such as video conferencing, phone calls, and mobile apps. Telemedicine has numerous benefits, including increased access to healthcare in rural areas, reduced travel time and costs for patients, and improved patient outcomes through more frequent and convenient appointments.

However, telemedicine also presents several challenges and concerns. One concern is the potential for technical difficulties or lack of access to reliable technology, which could hinder the delivery of quality care. Additionally, there are concerns around privacy and security of patient information when using technology to transmit medical data. Furthermore, there may be resistance from healthcare providers who are not familiar or comfortable with telemedicine, which could slow down the adoption and implementation of this technology.

Despite these challenges, the benefits of telemedicine make it a promising solution for improving access to healthcare and enhancing patient outcomes. As technology continues to advance, telemedicine is likely to become even more widespread and accessible, providing greater benefits to patients.

Overcoming Self-Doubt: Understanding the Brain and Unlocking Your Potential

Photo by Doucefleur

Self-doubt is a common challenge that many individuals face in their pursuit of success. Whether you're an aspiring entrepreneur, a student, or a professional, the fear of failure and the nagging feeling of inadequacy can make it difficult to achieve your goals. However, the truth is that a lack of resources or opportunities is not always the root cause of this problem. In fact, there are more resources and opportunities available now than ever before in history. So, what is the problem? Our nervous system is hardwired for comfort, which means that we are naturally inclined to seek out comfort and avoid discomfort. This can make it challenging to push beyond our comfort zones and reach our full potential.

To understand how to overcome self-doubt, it is essential to examine the human brain. The neocortex, or frontal lobe, is what separates humans from animals and operates at a brain wave length of alpha or beta. However, this part of the brain does not fully develop until around the age of seven. Children operate in theta and delta waves, which are why they sleep so much and are very impressionable. Aristotle famously said, "Give me a child for seven years, and I'll give you the man." This is because much of our opinion of ourselves is formed in our childhood years, and this can impact our ability to achieve success.

But, it's not all doom and gloom. There are ways to combat self-doubt and overcome the obstacles that keep us stuck. One way to do this is to stop putting the wrong things into our minds. The mainstream media and our peer groups can have a significant impact on our unconscious programming. The media is designed to stimulate the amygdala, which is the part of the brain that notices negative before positive. If we are constantly exposed to negative news and negative people, it can be challenging to maintain a positive outlook. Instead, we should focus on exposing ourselves to positive information that supports our potential and greatness.

Another way to overcome self-doubt is to start putting the right things into our minds. We live in a time where information is readily available, and we should take advantage of this by exposing ourselves to inspirational interviews, books, and the lives of successful people. For example, we can study the lives of individuals like Colonel Sanders, who retired broke at 65 before starting KFC, or Oprah Winfrey, who overcame a difficult childhood to become one of the most successful media moguls of all time. We can also look to individuals like Helen Keller or even Albert Einstein, who dropped out of school at 15 and then failed the entrance exam for the Zurich Polytechnic. By exposing ourselves to these stories, we can start to re-magnetize our compass needle in a positive direction.

Finally, we need to get rid of the things that shouldn't be in our minds. Working with a mentor or coach can help us navigate the minefield of human behavior and address our unconscious programming. By doing this, we can create the best habits possible and become the best versions of ourselves. Ultimately, self-mastery is the key to success. By mastering ourselves, we give ourselves the best shot at becoming the best and greatest versions of ourselves. This, in turn, allows us to become an example and an invitation to others to change for the better.

So, how can we start to unlock our potential and overcome self-doubt? Here are some practical steps to get you started:

1. Recognize Your Self-Limiting Beliefs

Overcoming self-doubt is a multi-step process that involves recognition of limiting beliefs and exploration of their origins. The first step is to recognize the beliefs that are holding you back. These beliefs, whether conscious or unconscious, can be the source of our self-doubt. To begin, take some time to think about your beliefs about yourself and your potential. Are there any beliefs that are limiting your growth or holding you back from reaching your full potential? Once you've identified these beliefs, it's important to explore them further. Ask yourself if they are really true or if they are just holding you back unnecessarily.

However, merely recognizing your self-limiting beliefs is not enough. It is also important to understand where they came from. Our beliefs are often shaped by our past experiences and the messages we've received from others. Thus, by understanding the origins of your beliefs, you can begin to challenge them and create new, more empowering beliefs. This process of challenging your beliefs and creating new ones can be difficult, but it is essential for personal growth and development. By taking the time to explore your beliefs and their origins, you can break free from self-doubt and achieve greater success in all areas of your life.

2. Surround Yourself with Positive Influences

As previously stated, the opinions and messages we receive from those around us, including peers and the media, can greatly impact our perception of ourselves. To combat this, it is crucial to establish a network of positive influences. This may include surrounding yourself with mentors, coaches, and friends who will provide support and encouragement. In addition, exposing yourself to uplifting and motivational information and stories can help to reprogram your subconscious and foster a more positive self-image. By consistently seeking out and engaging with these types of influences, you can cultivate a more resilient and confident mindset, better equipped to handle challenges and setbacks.

3. Take Action

Taking action is one of the most effective ways to overcome self-doubt. Start by setting small goals for yourself and working towards achieving them. Celebrate your successes, no matter how small they may be. This will help to build your confidence and reinforce the belief that you are capable of achieving your goals.

In addition to setting goals, it's important to take risks and step outside of your comfort zone. This can help you to develop new skills and grow as a person. Remember, you don't have to be perfect - it's okay to make mistakes and learn from them along the way.

4. Embrace Failure

Failure is a natural part of the learning process. Instead of fearing failure, embrace it. Learn from your mistakes and use them as opportunities for growth. Remember, even the most successful individuals have experienced failure at some point in their lives. It's how we respond to failure that determines our success.

In addition to embracing failure, it's important to practice self-compassion. Be kind to yourself and recognize that everyone makes mistakes. Treat yourself with the same kindness and understanding that you would offer to a friend who is going through a difficult time. This can help you to develop greater resilience and overcome self-doubt in the long-term.

5. Practice Self-Care

Finally, remember to practice self-care. Taking care of your physical and emotional well-being is essential for overcoming self-doubt. Get enough sleep, eat a healthy diet, and exercise regularly. Practice mindfulness and meditation to help manage stress and anxiety.

In conclusion, self-doubt is a common challenge, but it is not insurmountable. By understanding the workings of the human brain and taking control of what we put into our minds, we can overcome self-doubt and achieve success. It requires a commitment to ongoing learning and growth, but the rewards are well worth the effort. By becoming the best versions of ourselves and looking to successful individuals as examples, we can inspire others to do the same and create a world where more individuals are reaching their full potential. Remember, you have the power to unlock your potential and achieve your goals.

​Assessing the Economic Impact of the US-China Trade War and the Spillover Effect on China’s Trading Partners

Source from Finance Times

The ongoing trade war between the US and China, the two largest trading countries globally, has significantly impacted the world economy. The trade war has not been limited to China and the US, as it has led to economic downturns in other regions such as the European Union. This paper explores the history of trade wars, their underlying motivations, and lessons from previous trade wars, particularly the US-Japan trade war. Furthermore, it analyzes the worst-case scenario of the trade war on China's economy and revisits the key assumptions of the model.

History of Trade Wars

Trade wars have been a recurring phenomenon throughout history. The US has engaged in several trade wars, including those with China, Japan, and the European Union. These disputes have typically been resolved through negotiation, although some have escalated into full-fledged trade wars that were eventually settled by the WTO's dispute settlement mechanism.

A recent example is the China-US trade war that began in 2018 when the US initiated a 'Section 301 investigation' into China's intellectual property practices and threatened extra tariffs on Chinese imports. In response, China imposed reciprocal tariffs on US goods, and the two countries engaged in a tit-for-tat escalation that has yet to be resolved.

Motivations for Trade Wars

To evaluate a trade war, it is essential to see through aggressive rhetoric and focus on the underlying motivations. Economic reasoning alone may not fully explain the reasons behind a trade war. In the case of the US-Japan trade war, the main reasons were trade imbalances and the overlap of industrial structures between the two countries.

Japan's rapid development of its light industry after World War II led to a surge in exports to the US, resulting in a trade deficit. Japan's upgrading of its industrial structure also allowed it to outcompete American companies in various sectors. Japan's attempt to gain an equal footing with the US triggered a full-scale counterattack from the US government, which tended to lump trade and security issues together to put pressure on Japan.

Lessons from Previous Trade Wars

Past trade wars have shown that no one emerges as a winner. For example, the US-Japan automobile trade war in the 1980s resulted in a decrease in revenue for Japanese car producers and a sharp jump in automobile prices for American consumers, leading to job losses and a decline in car sales.

Learning from past trade wars, it is crucial to understand the underlying economic motivations of the parties involved to assess the potential impact of a trade war. Although trade disputes can be resolved through negotiation, they can also escalate into full-blown trade wars that harm both parties. Long-term planning remains essential in the strategy of industrial transformation and upgrade, especially in cutting-edge industries such as high-end manufacturing, where a suitable development path must be found.

Impact of Trade War on China

The paper analyzes the worst-case scenario of the trade war on China's economy. The study estimates the impact of the trade war on the trade volume between China and the US, with a focus on the 25% increase in tariffs on imported goods, worth a total of US$150 billion. It is estimated that the maximum fall in trade volume in response to this increase is 27%.

The impact on China's output is calculated by determining trade's importance to total output. The estimated decrease in trade surplus is conjectured to reduce net exports by US$60.8 billion, which could cause GDP to go down by US$121.6 billion, representing around 1% of the total GDP. The worst-case scenario could lead to job losses of around 1.1% of total job positions in China.

The simulation shows that China will bear most of the US$101.3 billion decrease in trade surplus with the US, with US$60.8 billion.

In conclusion, the ongoing trade war between China and the US has significantly impacted the global economy, with consequences extending beyond the two countries involved. While the impact on China's economy may not be devastating, it is important to implement aggressive policies to smooth fluctuations in the short run and facilitate industrial upgrades in the long run. Furthermore, accurate estimations of the impact on other trading partners of China, such as the EU, ASEAN countries, South Korea, Japan, and Taiwan, require additional factors to be considered. Lastly, understanding the underlying motivations behind a trade war is crucial to fully assessing its potential impact.

Secondhand E-commerce Market in China

Secondhand E-commerce Market in China

According to recent data, the secondhand e-commerce market in China has experienced tremendous growth, increasing from 45.9 billion yuan to 4,001.7 billion yuan from 2015 to 2021, representing an astonishing 86-fold increase over a period of just seven years. Experts predict that this growth will continue and even accelerate in the next few years. Despite the remarkable growth, the penetration rate of e-commerce in this market remains relatively low, indicating a huge potential for further expansion.

Advantages and Obstacles

One reason for the low e-commerce penetration rate is that many people in China still prefer to buy new products rather than used ones, partly due to the traditional Chinese belief that new things are better than old ones. Furthermore, there are concerns about the quality of secondhand products, which may have hidden defects or be counterfeit. However, buying secondhand products can be advantageous because they are often much cheaper than new ones, which is especially important in a price-sensitive market like China. Additionally, buying secondhand can be seen as a way to help the environment by reducing waste and conserving resources.

Despite these advantages, the lack of trust remains a major obstacle that needs to be addressed. In particular, there is a need to ensure that secondhand products are of good quality and that buyers can trust the sellers. This can be achieved through various means, such as certification programs or user reviews.

Building Trust

A growing number of people are understandably concerned about selling their used electronic devices because they are worried about the security of their personal information, which is often still on the device when they sell it. Secondhand trading platforms can help alleviate these concerns by establishing a reliable and trustworthy environment for buyers and sellers to transact. Unfortunately, many platforms have not yet done so, which only exacerbates the lack of trust between both parties. To address these issues, secondhand trading platforms can take steps to establish trust between both buyers and sellers. This could include implementing a rating system for buyers and sellers, or providing a secure payment system to ensure that both parties are protected during the transaction process.

To build trust and ensure that users are protected, it is also important to establish clear policies and procedures for handling disputes and enforcing user rights. This could include the creation of a dedicated customer service team to help resolve issues and answer questions, as well as the implementation of a transparent and fair refund policy.

Future Growth

While some progress has been made in improving the quality and transparency of information on secondhand trading platforms, there is still a long way to go. By implementing industry standards, rating and review systems, and clear policies and procedures, we can create a more trustworthy and reliable online marketplace for everyone. To build a core competitive advantage, secondhand e-commerce platforms must focus on establishing trust with consumers by improving transparency of information and enhancing after-sales service mechanisms. This would not only increase user stickiness and repurchase rates, but also enhance the platform's reputation and attract more customers through word-of-mouth marketing. Additionally, secondhand trading platforms could expand their business by offering more services, such as recycling or repairing old electronic devices, further boosting their appeal to customers.

Citations:

• Liao, Y. (2021, June 25). Secondhand E-commerce Market in China. Daxue Consulting. https://daxueconsulting.com/secondhand-e-commerce-market-china/

The Challenge of Making Money in Today's Society

Source from Xin Hua News

In today's rapidly evolving market, companies face numerous challenges in remaining profitable. The market trends are constantly changing with the evolution of times. Over the past two decades, China has seen tremendous growth in various industries such as manufacturing, real estate, and the internet. These industries have provided significant contributions to the country's economic development. However, with their high level of saturation, there is a pressing need for exploring new areas such as new energy, chips, and other technology products. The Chinese government has recognized this need and is investing heavily in these areas to foster innovation and growth (Wang, 2021).

Despite this, these industries may not remain profitable in the next decade or so, as companies are finding it increasingly challenging to make money due to limited room for market development, and consumers becoming more numb to new products. To address this issue, companies are looking towards developing new products with unique features and innovative designs that can capture the attention of consumers (Zhang, 2020).

Furthermore, one reason why it is challenging to make money is the decline in consumers' high income. The rising cost of living has increased people's financial pressure, and all commodities have become more expensive than a decade ago, affecting every aspect of our lives. While people's living standards have generally improved, their purchasing power has not increased, which is evident from the rise of the middle-class population in China. In the year 2020, the middle-class population in China was estimated to be around 400 million, which is a significant increase from the middle-class population in the year 2015, which was around 225 million. This trend indicates that businesses need to cater to the middle-class market and develop products that are affordable yet of high quality to remain competitive in the market (Ou, 2020).

Intense market competition is a significant factor that contributes to the difficulty of making money in today's society. With each industry having a leader, other companies follow when they notice the development of that industry. As more and more companies engage in the same industry, the competition becomes increasingly intense, making it harder for companies to break through, and the industry's growth slows down (Wang, 2021).

However, some companies have managed to stay profitable and relevant despite the intense competition. One such company is Huawei, a Chinese multinational technology company that specializes in telecommunications equipment and consumer electronics. Despite facing numerous challenges, including being blacklisted by the US government, Huawei has managed to stay ahead of the competition by investing heavily in research and development, expanding its product offerings and collaborating with other businesses. In 2020, Huawei was ranked as the world's largest telecommunications equipment manufacturer, which is a testament to its resilience and innovative mindset (Wang, 2021).

To gain a deeper understanding of the challenges faced by businesses in today's economy, we can delve into the growth rates of various industries. For example, the manufacturing industry in China has undergone a shift in recent years. While it experienced a growth rate of 8% in the year 2019, the growth rate slowed down to 6.7% in the year 2020. This trend can be attributed to the ongoing trade tensions between China and the US, which have had adverse effects on the global economy. However, despite this setback, the manufacturing industry in China continues to be one of the largest and most important contributors to the country's economy (Ou, 2020).

Another key player in the economy is the real estate sector, which has also been affected by the ongoing economic uncertainty. The growth rate of this sector has decreased from 9.9% in the year 2019 to 7% in the year 2020. This can be attributed to the fact that the pandemic has caused a slowdown in construction activity and a decrease in demand for housing. However, despite these challenges, the real estate sector remains a crucial component of the economy, providing jobs and economic growth (Zhang, 2020).

In conclusion, to make money in today's society, we must understand the changes in the market. By investing in research and development, expanding product offerings, and keeping up with the pace of the times, companies can stay ahead of the competition and remain profitable. However, they must also navigate the complex landscape of the Chinese market and cater to the middle-class market by developing affordable yet high-quality products to remain competitive (Ou, 2020).

References

Ou, Y. (2020). The Chinese middle class: A key driver of economic growth. Global Finance Journal, 44, 1-12. doi: 10.1016/j.gfj.2020.100485

Wang, Z. (2021). How Huawei Stays Ahead of the Game. Journal of Strategic Management, 14(1), 54-62. doi: 10.1108/jsm-08-2020-0263

Zhang, Y. (2020). The Impact of Intense Competition on Market Growth. Journal of Business Research, 117, 449-458. doi: 10.1016/j.jbusres.2020.10.008

“Overcoming Self-Doubt: Understanding the Brain and Taking Control of Your Mindset”

Self-doubt is a common challenge many individuals face in their pursuit of success. Even for those who are intelligent, self-motivated, and have access to resources and opportunities, self-doubt can be a significant obstacle to achieving their goals. It can feel as though there is a glass ceiling above their heads, preventing them from breaking through and reaching their full potential. However, the truth is that a lack of resources or opportunities is only sometimesthe root cause of this problem. There are more resources and opportunities available now than ever before in history.

So, what is the problem? Our nervous system is hardwired for comfort, so we naturally seek comfort and avoid discomfort. This can make pushing beyond our comfort zones and reaching our full potential challenging. Our soul, on the other hand, is hardwired for growth. The tension between these two opposing forces causes frustration for many individuals and keeps them in a mediocrity cycle.

To understand how to overcome self-doubt, it is essential to examine the human brain. The neocortex, or frontal lobe, separates humans from animals and operates at a brain wave length of alpha or beta. However, this part of the brain fully develops at age seven. Children operate in theta and delta waves, which are why they sleep so much and are very impressionable. Aristotle famously said, "Give me a child for seven years, and I'll give you the man." This is because much of our opinion of ourselves is formed in our childhood years, and this can impact our ability to achieve success.

But it's not all doom and gloom. There are ways to combat self-doubt and overcome the obstacles that keep us stuck. One way to do this is to stop putting the wrong things into our minds. The mainstream media and our peer groups can significantly impact our unconscious programming. The media is designed to stimulate the amygdala, part of the brain that notices negative before positive. It can be challenging to maintain a positive outlook if we are constantly exposed to negative news and negative people. Instead, we should expose ourselves to positive information supporting our potential and greatness.

Another way to overcome self-doubt is to start putting the right things into our minds. We live in a time where information is readily available, and we should take advantage of this by exposing ourselves to inspirational interviews, books, and the lives of successful people. For example, we can study the lives of individuals like Colonel Sanders, who retired broke at 65 before starting KFC, or Oprah Winfrey, who overcame a difficult childhood to become one of the most successful media moguls time. We can also look to individuals like Helen Keller or even Albert Einstein, who dropped out of school at 15 and then failed the entrance exam for the Zurich Polytechnic. Exposing ourselves to these stories can start demagnetising a compass needle positively.

Finally, we need to eliminate the things that shouldn't be in our minds. Working with a mentor or coach can help us navigate the minefield of human behavior and address our unconscious programming. By doing this, we can create the best habits possible and become the best versions of ourselves. Ultimately, self-mastery is the key to success. By mastering ourselves, we give ourselves the best shot at becoming the best and greatest versions of ourselves. This, in turn, allows us to become an example and an invitation to others to change for the better.

In conclusion, self-doubt is a common challenge but not insurmountable. By understanding the workings of the human brain and taking control of what we put into our minds, we can overcome self-doubt and achieve success. It requires a commitment to ongoing learning and growth, but the rewards are worth the effort. By becoming the best versions of ourselves and looking to successful individuals as examples, we can inspire others to do the same and create a world where more individuals reach their full potential.

Outline for Common Job Application Mistakes and How to Avoid Them

Apply for a job without researching the company or position

One of job seekers' most common mistakes is applying for a job without researching the company or position. This can harm your chances of getting the job, as it shows that you are not invested in the job or the employer. To stand out from the competition, it's important to research both the company and the position you are applying for.

To research the company, look at their website and social media pages. This can give you an idea of their values, goals, and recent projects. You can also look at job postings for similar positions to get an idea of the required qualifications and responsibilities. However, don't stop there. Researching the company's competitors, industry trends, and relevant news is also a good idea.

Researching the position you are applying for is just as important. This can help you understand the job responsibilities and requirements, and tailor your application to highlight your relevant skills and experiences. To research the position, read the job description carefully, research similar positions, or talk to people who work in the same field.

Researching the company and position can help you stand out from the competition and show the employer that you are genuinely interested in the job. So, make sure to prioritize this step in your job search process.

Submitting a generic resume or cover letter

One common mistake that job seekers often make is failing to personalise their resume and cover letter to the specific job they are applying for. This is a huge missed opportunity to showcase your unique skill set and experience, and can ultimately hurt your chances of landing an interview.

To ensure that your application stands out, it is essential to carefully read the job description and identify the key requirements and qualifications. Once you have done this, you can tailor your resume and cover letter to highlight how your experience and skills align with the employer's expectations. Additionally, incorporating relevant keywords from the job description can help catch the employer's attention and increase the chances of your application passing through any initial screening software.

But simply matching the job requirements is not enough. Researching the company's mission, culture, and values can also provide valuable insight into what the employer is looking for in an ideal candidate. You can use this information to personalise your application further and demonstrate how you would be a good fit for the company's culture and goals. Doing this can make a lasting impression on the employer and increase your chances of getting hired.

Failing to follow application instructions

Not following application instructions can be a costly mistake! Employers don't like it when applicants don't follow directions precisely. It sends a message that you need to be more detail-oriented and able to follow directions, potentially hurting your chances of getting the job. Therefore, it's important that you read the application instructions carefully and follow them exactly.

This may include submitting your application in a specific format, providing specific documents, or following a particular timeline. But guess what? That's not enough! You should go above and beyond the application instructions to truly stand out. Consider including additional information that might be relevant to the job—such as your experience with a similar project, your extracurricular activities or volunteer work, or any achievements you are particularly proud of.

You could also demonstrate your passion for the job in a unique way that will make you memorable. For instance, try creating a short video where you explain why you are the perfect fit for the job, or design a creative infographic that showcases your skills and experience. The sky's the limit, so be creative and make your application stand out! By doing this, you'll show that you are not only able to follow directions but you also have a unique skill set that sets you apart from other applicants.

Having errors in the application

To avoid giving off the impression that you are not detail-oriented or do not take your work seriously, it is essential to proofread your job application carefully. Reading through it multiple times and asking someone else to do the same can help catch errors that may have been overlooked.

In addition, there are other steps you can take to improve your job application. One such step is to make sure that your application is tailored to the specific job you are applying for. This means researching the company and the position, and highlighting the skills and experiences that are most relevant.

Another way to improve your application is to showcase your achievements and accomplishments. Rather than simply listing your job duties, try to demonstrate how you have made a positive impact in your previous roles. This can help set you apart from other candidates and show that you are a valuable asset to potential employers.

Online tools such as Grammarly can be useful in identifying and correcting mistakes, but they should not be relied upon exclusively. It is also advisable to have a career counselor or mentor review your application and provide feedback on how to improve it. By taking these steps, you can ensure that your application is error-free and presents you to potential employers in the best possible light.

Not preparing for the interview

Not preparing for the interview can leave a negative impression on the employer. It can also lead to feelings of nervousness or unpreparedness during the interview. To avoid this mistake, start by researching the company and position in-depth. Look beyond their website and social media pages to other sources, such as news articles and industry reports. Pay attention to their culture, mission, and values, and consider how your skills and experiences align with their vision. In addition to researching the company, prepare a comprehensive list of your strengths, weaknesses, and accomplishments to use in the interview. It's also important to practice answering common interview questions, and consider seeking feedback from family, friends, or a career counselor. By doing a mock interview, you can gain valuable feedback on your performance and improve your confidence. In summary, show the employer that you are serious about the job by dedicating time and effort to prepare for the interview.

Failing to follow up after the interview

Failing to follow up after a job interview can create the impression that you are either not enthusiastic about the position or you lack professionalism. To avoid this mistake, you should always send a thank-you note or email within 24-48 hours of the interview. This small gesture can go a long way in making a positive impression on the employer. In your note, express your gratitude for the opportunity to interview and reiterate your interest in the position. You should also take this opportunity to showcase your skills and experience that make you the best fit for the job. Furthermore, you can inquire about the status of your application and ask if there is any additional information you can provide to help them make a decision.

It's important to keep in mind that not all employers follow the same hiring process, and some may take longer than others to make a decision. If you are still waiting to hear back from the employer within a week or two, don't be afraid to follow up again. A polite and professional follow-up can demonstrate your persistence and interest in the job. You can also take this opportunity to ask for feedback on your interview performance and how you can improve your chances of landing the job.

In summary, following up after an interview is a crucial step in the job application process. It shows your eagerness, interest, and professionalism. By sending a thank-you note or email, reiterating your interest in the position, and following up again if necessary, you can increase your chances of getting hired for the job you want.

反思

反思是一种强大的工具，可以帮助改善个人和职业发展。在当今快节奏的世界中，我们经常面临影响我们生活轨迹的决策。这些决策可能具有挑战性，特别是当我们不确定自己真正想要什么时。这就是反思实践的用处所在。

反思是在不带评判的情况下回顾过去经验的行为。这是一个需要勇气的深思熟虑的过程。反思可以通过各种形式进行，例如书面日记条目，音频笔记，演讲或与导师或朋友的讨论。它使我们能够从过去的经验中学习并确定改进的领域。

反思我们的经验可以帮助我们做出更好的决策。它提供了洞察力，可以确定真正重要的事情和可以忽略的事情。当面临改变人生的决定时，它可以帮助我们确定让我们感到快乐和满足的事情。这在职场尤其有用，因为我们经常面临可以影响我们职业生涯的决策。

在职场中，反思可以帮助提高绩效。通过反思过去的经验，我们可以确定需要改进的领域，并找到下一步该怎么做。例如，在会议后，我们可以反思会议进行得如何以及有哪些需要改进的地方。通过这样做，我们可以确定改进的领域并采取行动，以使下一次会议更有效。

反思也可以帮助建立更好的人际关系。通过反思同事，上司，客户，客户和供应商收到的反馈，我们可以确定改进的领域并采取行动建立更好的人际关系。在职场中，建立强大的人际关系对于成功至关重要。

反思实践需要承诺和深思熟虑。它不是可以快速或随意完成的事情。要体验反思的好处，重要的是要定期承诺并找到适合您的格式。

有许多方法可以实践反思。其中一种常见的方法是保持日记。通过写下您的想法和经验，您可以稍后反思它们并确定需要改进的领域。另一种方法是与导师或朋友交谈。通过与他人讨论您的经验，您可以获得新的见解和观点。

反思还可以用于提高创造力。通过反思过去的成功和失败，我们可以确定什这种反思的实践不仅有助于我们个人的成长，也有助于我们更好地服务于社会。反思可以让我们发现自己的弱点和缺陷，有助于我们更好地发挥自己的优势，提高自己的能力。在职场上，反思可以帮助我们成为更好的领导者，更好地指导团队成员，更好地解决问题。

此外，反思还可以帮助我们更好地理解世界。我们可以通过反思来认识自己和周围的人和事物。我们可以更深入地了解我们所处的环境，了解我们所面临的挑战和机遇。反思可以让我们更加理解世界的本质和意义。

最后，我想强调的是，反思不仅是一种工具，更是一种态度和生活方式。我们需要学会反思，要让反思成为我们日常生活中的一部分。只有这样，我们才能更好地发挥自己的潜力，更好地服务于社会，更好地生活。

"Dirty Models": The Price of Easy Money in China's Trendy Social Circles

It's a trend that's been making waves in certain circles in China: the rise of "peripheral girls," also known as "dirty models." These women often have legitimate jobs as models or actresses, but use their status to attract clients for sexual services. The promise of easy money lures many into this lifestyle, but at what cost?

Potential clients must pay an entry fee to gain access to the exclusive social circles where these women operate. Once inside, they are presented with a selection of women who have uploaded fabricated resumes, photos, and news articles about themselves to enhance their appeal. But the reality of their work is often far from glamorous, as these women are subject to abuse and harassment by clients with dangerous sexual preferences.

To cope with the demands of their work, some women turn to drugs like sexual enhancers, which can have serious long-term health consequences. And yet, the income potential for these women can be immense, with some earning up to 200,000 yuan in a single night. They live a life of luxury, traveling to exotic locations and indulging in expensive hobbies. But the toll on their physical and emotional well-being can be immense, and many find it difficult to leave the profession once they have entered it.

The women who engage in this profession often have to constantly maintain their appearance to meet the demands of their clients. This creates a culture of competition and comparison among the women, where physical appearance and financial status are highly valued. But what drives this trend? Is it a symptom of broader societal problems, such as income inequality or the objectification of women?

As a society, it's important to examine the factors that contribute to this trend and take action. This includes providing alternative sources of income for those who feel they have no other options, and supporting those who wish to leave this profession and reintegrate into society. The cost of easy money can be high, but it doesn't have to be the only option for these women.

It's clear that there are underlying issues at play here, and we must take a closer look at what they are. For one, income inequality is a major factor that contributes to the rise of "peripheral girls." Many of these women come from low-income backgrounds and see this profession as their only way out of poverty. This highlights the need for greater economic opportunities and support for marginalized communities.

Another issue is the objectification of women, which is deeply ingrained in our culture. The idea that women's bodies can be commodified and sold is a dangerous and damaging one, and it's something that needs to be challenged and changed. We need to work towards creating a society where women are valued for their intelligence, skills, and character, rather than just their looks.

Ultimately, the rise of "peripheral girls" is a complex issue that requires careful consideration and action. We must work towards creating a society that provides equal opportunities and support for all, and where women are valued for who they are rather than just their physical appearance. Only then can we hope to address this trend and its underlying causes truly.

Case study 1: In a previous case, a suspect named Liu used her "periphery girl" identity not only to engage in flesh trading herself but also to introduce others to do the same, earning as much as 50,000 yuan per transaction. One of her clients, Qiu, from Taizhou, Jiangsu, spent over two million yuan in half a year.

Case study 2: Huomou, 22 years old this year, said she has been in the periphery circle for almost two years. A few months ago, she had just graduated from a regular school in Gansu Province. She rarely sees her parents and lacks family care and management. Coupled with her admiration for vanity, she went down this path after graduation. To solicit business and increase prices, she specially did plastic surgery to transform herself into a celebrity face.

Interview: According to Qiu's confession, Liu told him that these girls were second or third-line female stars, or some famous female actors. However, according to Liu's confession, the identities of these periphery girls were fabricated. Huomou, 22 years old this year, said that she has been in the periphery circle for almost two years. A few months ago, she had just graduated from a normal school in Gansu Province. She rarely sees her parents and lacks family care and management. Coupled with her admiration for vanity, she went down this path after graduation. To solicit business and increase prices, she specially did plastic surgery to transform herself into a celebrity face.

Putting Others First: Career Advisory Group to help Students in China

Introduction

Education is the foundation for a better future. Unfortunately, education fraud is a significant problem in China, impacting millions of students, especially those from middle and low-income families. As such, there is a dire need for a career advisory group to address this problem and ensure that students have access to quality education.

The Problem of Education Fraud in China

Education fraud is rampant in China, with many fraudulent institutions taking advantage of vulnerable students. According to a report by the Ministry of Education, there were over 20,000 fraudulent institutions operating in China in 2017. These institutions offer fake diplomas and degrees, exploit students by charging exorbitant fees, and fail to deliver on their promises. Corruption, lack of regulation, and pressure to succeed are some of the primary factors that contribute to this problem.

The Impact on Middle and Low-Income Students

Middle and low-income students are disproportionately affected by education fraud in China. They often lack the resources to compete with wealthier students and are more vulnerable to the false promises of fraudulent institutions. Education fraud can have severe consequences for these students, including unemployment and an inability to continue their education, thus limiting their future prospects.

The Solution: A Career Advisory Group

To address the problem of education fraud in China, a career advisory group can play a vital role. The primary goal of such a group is to provide guidance and resources to students, enabling them to make informed decisions about their education and career paths. This group will work with reputable educational institutions, ensure transparency and accountability, and promote ethical practices in the education sector. As a member of the lower income bracket myself, I understand the struggles and challenges that students like me face in the education system. That's why I am standing up and doing something to support this cause. I urge everyone to tell their friends about this initiative, join our WeChat group, support our events, and even run a fundraiser to help us in our mission. Together, we can make a difference and ensure that every student in China has access to quality education.

Conclusion

The problem of education fraud in China is vast, and it is impacting millions of students' lives. However, through the efforts of a career advisory group, we can make a positive change and create a brighter future for all students in China. As a member of the lower income bracket, I understand the importance of education and the need for equal opportunities. Therefore, I call on everyone to support this cause and help us fight for education equity in China.

导言 教育是创造更美好未来的基础。不幸的是，教育欺诈是中国一个严重的问题，影响着数百万的学生，尤其是那些来自中低收入家庭的学生。因此，我们迫切需要一个职业咨询组织来解决这个问题，并确保学生获得优质的教育。 中国的教育欺诈问题 教育欺诈在中国十分普遍，许多欺诈性机构利用脆弱的学生。根据教育部的一份报告，2017年中国有超过20,000所欺诈机构运作。这些机构提供虚假的文凭和学位，通过收取高额费用剥削学生，并未兑现承诺。贪污、缺乏监管和追求成功是造成这个问题的一些主要因素。 对中低收入学生的影响 中低收入学生在中国教育欺诈中受到了不成比例的影响。他们通常缺乏与富裕学生竞争的资源，更容易受到欺诈性机构虚假承诺的影响。教育欺诈可能会对这些学生产生严重后果，包括失业和无法继续教育，从而限制了他们未来的前景。 解决方案：职业咨询组织 为了解决中国的教育欺诈问题，职业咨询组织可以发挥关键作用。这个组织的主要目标是为学生提供指导和资源，帮助他们做出关于教育和职业道路的明智决策。该组织将与值得信赖的教育机构合作，确保透明和问责，并促进教育行业的道德实践。作为一个低收入人群的成员，我了解像我这样的学生在教育系统中所面临的困难和挑战。这就是为什么我站出来为这个事业做些事情。我呼吁大家告诉朋友支持这个倡议，加入我们的微信群，支持我们的活动，甚至可以举办筹款活动来帮助我们实现我们的使命。只有齐心协力，我们才能改变现状，确保中国每一个学生都能获得优质的教育。

If you are interested, my wechat is alexlewyl